GST Paid short in GSTR 3B : How interest will be calculated

By | September 11, 2018
Print Friendly, PDF & Email
(Last Updated On: September 11, 2018)

While filing the GSTR 3B for Jul 2017. We had wrongly mentioned IGST liability as 11 lakhs instead of 17 lakh, but we had correctly paid tax of 17 lakhs in cash and is credited in Electronic Cash Ledger. But we did not utilise the excess cash of 6 lakhs and is  carried forward the same in cash ledger till date. While filing GSTR 3 for Jul 17, do we need to pay interest on differential amount of 6 lakhs from Jul 2017 to till date?

Relevant Portion of Section 49 of CGST Act 2017

Payment of tax, interest, penalty and other amounts.

…….

(3) The amount available in the electronic cash ledger may be used for making any payment towards tax, interest, penalty, fees or any other amount payable under the provisions of this Act or the rules made thereunder in such manner and subject to such conditions and within such time as may be prescribed.

Comment  : unless and untill you use balance in cash ledger to pay tax, tax will not be assumed to be paid

Relevant Portion of Section 50 of CGST Act 2017

Interest on delayed payment of tax .

  1. (1) Every person who is liable to pay tax in accordance with the provisions of this Act or the rules made thereunder, but fails to pay the tax or any part thereof to the Government within the period prescribed, shall for the period for which the tax or any part thereof remains unpaid, pay, on his own, interest at such rate, not exceeding eighteen per cent, as may be notified by the Government on the recommendations of the Council.

(2) The interest under sub-section (1) shall be calculated, in such manner as may be prescribed, from the day succeeding the day on which such tax was due to be paid.

Thus you needs to pay  interest on differential amount of 6 lakhs from next day after due date of filing Jul 2017 GSTR 3B  to till date [ Refer GST Interest Rates : When and How Much : Notifications wise ]

GST Returns : Free study Material

Here is the Free study Material on GST Returns

Due Date for GST Return

GST Return Not Filed : Consequences

Check list to avoid Json validation error in GST Return

GST offline utility for Return Filing : How to Download & Install

GSTR 1 : Relevant Material for GST Returns 

Advisory : Filing of Quarterly GST Returns FORM GSTR1

How to declare Supply to merchant exporters @ 0.1%  in GST returns

Uploading GST invoices using CSV templates : Video  ,

How to Add Invoices in GSTR 1 GST Return : Video

How to upload GST invoices using excel templates

How to file GSTR 1 GST Return online : Video

GSTR 1 GST Return filing : 46 FAQ

GST Invoice Upload / Download on GST Portal : FAQ & User Manual

GSTR 2 : Relevant Material for GST Returns  

Advisory on GSTR 2 : GST Return

GSTR 2A : Relevant Material for GST Returns  

GSTR 2A FAQs

GSTR 3B :Relevant Material for GST Returns

 GSTR 3B due Date

What is the late Fees for not filing GSTR 3B on due dates ?

Exporters advised to file Table 6A and GSTR 3B for IGST Refund : Govt Press release

Where to show unregistered purchase in GSTR 3B after 13th Oct 2017

GSTR 3B FAQ : updated !  

[Video] GSTR 3B New Features : Explained by GSTN

[Video] GST News [ Part 172 ] GSTR 3B return Filing Changed w.e.f 21.02.2018 : by CA Satbir Singh

Filing GSTR 3B is now made more User friendly w.e.f 21.02.2018

GST Paid short in GSTR 3B : How interest will be calculated

How to rectify errors done while filing GSTR 3B ?

Will GSTR 3B be reconciled with GSTR 1 , GSTR 2 and GSTR 3

Can I edit GSTR 3B ? Answer

How to make Adjustments in GSTR 3B ?

GSTR 4 : Relevant Material for GST Returns  

How to File GSTR 4 : Composition Dealer GST Return

Study Material for GST Returns  

New GST Return procedure : 27th GST Council Meeting decisions

Allow easy access to GST portals : Bombay HC directions to GSTN

GST Return filing : Issues and Challenges

ICAI suggests SUF Model for GST returns

Last dates of filing various GST Return forms.

GST Return FAQs: Part 1 : by CA Satbir Singh I TaxHeal

GST Returns & Payment of Taxes : ICSI : Video

GST Returns and ITC : GST Ki Master Class : 26 10 2017 : DD News

GST returns by casual taxable person : Issues

Defer GST Return matching requirement : ICAI Suggestion

Transition Form GST TRAN 3 FAQ

How to File Transition Form GST TRAN 3

 GST Returns : Free study Material

Related Topic on GST 

TopicClick Link
GST ActsCentral GST Act and States GST Acts
GST RulesGST Rules
 GST FormsGST Forms
GST RatesGST Rates
GST NotificationsGST Act Notifications
GST CircularsGST Circulars
 GST JudgmentsGST Judgments
GST Press ReleaseGST Press Release
GST BooksBest Books on GST in India
GST CommentaryTopic wise Commentary on GST Act of India
GST You Tube ChannelTaxHeal You Tube Channel
GST Online CourseJoin GST online Course
Direct Taxes Ready Reckoner
Service Tax Ready Reckoner
Company Law Ready Reckoner
tax deduction at source

3 thoughts on “GST Paid short in GSTR 3B : How interest will be calculated

  1. Pingback: GST Returns : Free study Material - Tax Heal

  2. Pingback: Due date for GSTR 3B for April 2018 Extended - Tax Heal

  3. Pingback: GSTR 3B Late Fee - Tax Heal

Leave a Reply

Your email address will not be published. Required fields are marked *